Indigo-Energy Executes $5 Million Standby Equity Distribution Agreement
Indigo-Energy, Inc. has entered into a $5 million Standby Equity Distribution Agreement with YA Global Investments, L.P. based in Jersey City, New Jersey.
The Standby Equity Distribution Agreement stipulates that YA Global Investments, L.P. will purchase up to $5 million worth of stock over a three-year period at the discretion of Indigo-Energy, Inc., contingent upon the registration of the underlying shares of stock to be purchased. Indigo-Energy, Inc. will file an SB-2 registration statement with the Securities and Exchange Commission as part of the process to complete the transaction.
"Indigo-Energy is very pleased to secure this investment from such a respected firm as YA Global. If we access funding under this facility, we expect it to allow us to optimize our existing well production and improve our organizational structure," stated Steve Durdin, CEO and President of Indigo-Energy, Inc.